CME Group unveiled plans to further dive into the $95 trillion global digital asset derivatives markets, with the introduction of Nasdaq CME Crypto Index futures on June 8, pending regulatory review.
The futures will be the company's first market-cap-weighted futures contract, the world's leading derivatives marketplace said in a statement on Thursday. Available to trade in micro-sized and larger contracts, the contracts provide a capital-efficient way for participants to gain exposure to the top cryptocurrencies through a single, financially settled instrument.
The move comes as CME Group cements its status as the global center for institutional crypto pricing. CME’s crypto product suite crossed $7.3 trillion in total lifetime notional volume earlier this year. This new index product allows CME to target a larger share of the broader global market, which currently sees an average daily turnover of $264.5 billion. The yearly trading volume totaled $85.7 trillion, according to a Coinglass report last year.
coindesk.com